Intuit: How Design Drove Its Turnaround

Intuit: How Design Drove Its Turnaround

Over the past six years, Intuit (INTU), maker of TurboTax and other accounting software, has placed design at the center of what it does—a shift it credits for its turnaround. Intuit Chief Executive Officer Brad Smith and Kaaren Hanson, vice president for design innovation, explain.

When did you know something was amiss?
Hanson: Back in 2007, 2008, we realized that we were no longer any better than our competitors. At the same time, mobile was really coming into play. So we knew we needed to change. When we look at any product at Intuit, we think about three factors. We expect to create a benefit that people care about. It needs to be easy. And it needs to evoke positive emotion. To do that, we went after three strategies. First of all, we made sure everybody in the company had a visceral experience of what great design was like. We started with our most senior leaders. Brad had his team at an off-site, and we had them each bring in something that delighted them. And we had them talk about what made that experience delightful to them—that’s when we locked in on how we want our customers to feel.

And the other two strategies?
Smith: The second is the triad. We have the designer, the engineer, and the product manager working together. It used to be that when we said we were going to be design-driven, the engineers said, “Well, here’s the technology constraints.” The product manager said, “Well, here’s the thing we have to solve,” and then gave it to the designers and said, “Make it pretty before it ships.” Now the designers are a part of it, Day One. And the third part was we needed superstrong designers. So we hired some.

Any instructive mistakes?
Hanson: Well, when we started off, we thought it was going to be fantastic. But after a year of thinking that design is finally going to be able to help change the company, absolutely nothing changed. What we hadn’t realized was that talking is worthless. The gap between knowing and doing is tremendous. It wasn’t until we created a series of coaches, called the Innovation Catalysts, that design became a part of our DNA.

At one stage, 70 percent of your executives had new direct reports. Was that hard?
Smith: You always have some who resist change, but 7 billion hours a year are spent inputting information into software to do your taxes, and for half of Americans, the single biggest check they’ll get is their tax refund. So our vision is to eliminate 7 billion hours of tax prep drudgery and get to the money as fast as possible. Then we put one more constraint on: It needs to happen on a mobile device. All of this turned out to be a grand challenge.

 

Unknown's avatarAbout bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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